Wheaton Precious Metals Corp. $WPM Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc reduced its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,790,601 shares of the company’s stock after selling 46,497 shares during the quarter. CIBC Asset Management Inc’s holdings in Wheaton Precious Metals were worth $330,268,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Assetmark Inc. raised its position in shares of Wheaton Precious Metals by 144.4% during the 4th quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after buying an additional 130 shares in the last quarter. Cary Street Partners Investment Advisory LLC bought a new position in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $28,000. Navalign LLC bought a new position in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $30,000. Eagle Bay Advisors LLC acquired a new position in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $32,000. Finally, Triumph Capital Management bought a new stake in Wheaton Precious Metals during the third quarter worth approximately $33,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Up 1.1%

NYSE WPM opened at $130.25 on Wednesday. Wheaton Precious Metals Corp. has a 1 year low of $85.59 and a 1 year high of $165.76. The company has a market cap of $59.15 billion, a PE ratio of 32.89, a PEG ratio of 2.43 and a beta of 0.51. The stock’s 50-day moving average price is $133.78 and its two-hundred day moving average price is $130.99.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.04. The business had revenue of $901.47 million for the quarter, compared to the consensus estimate of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The firm’s quarterly revenue was up 91.7% compared to the same quarter last year. During the same period last year, the firm posted $0.55 earnings per share. Research analysts forecast that Wheaton Precious Metals Corp. will post 4.98 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be given a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, May 27th. Wheaton Precious Metals’s payout ratio is presently 19.70%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WPM. TD Securities lifted their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Scotiabank lifted their target price on Wheaton Precious Metals from $178.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. BMO Capital Markets assumed coverage on shares of Wheaton Precious Metals in a research report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price target on the stock. TD Cowen upped their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a report on Monday, March 16th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Thirteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and an average target price of $155.64.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.